Deal to Give Buffalo's M&T Entry into Property/Casualty

M&T Bank Corp. of Buffalo is poised to enter the property and casualty insurance business early next year with a deal to buy a local agency.

M&T said last week that it agreed to buy Matthews, Bartlett & Dedecker Inc., a Buffalo agency that had revenues of nearly $5 million last year. Terms of the deal, which is expected to close during the first quarter, were not disclosed.